New Accords Cover Small Package and Freight Groups
UPS (NYSE: UPS) today announced that it has reached a tentative agreement with the International Brotherhood of Teamsters (Teamsters) on two, new five-year contracts in the small package and freight business units. The tentative contracts, which must be presented to the UPS Teamster-represented employees for ratification, were concluded well in advance of the July 31, 2013, expiration of the current contracts.
"These agreements are a 'win-win-win' for our people, customers and shareholders," said Scott Davis, UPS chairman and CEO. "The fact that we have reached agreements well before our current contracts expire is a testament to the skills and determination of all those involved in these negotiations."
The new contracts enable UPS to remain highly competitive, customer-focused, and positioned to deliver transformative technologies in such areas as healthcare logistics and e-commerce on a global scale.
Upon ratification, the new agreements will take effect on August 1, 2013.